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Armour Energy provides Holdgate-1 well update


Published May 25, 2012
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Armour Energy Ltd

Armour Energy Ltd (AJQ) wishes to provide an update in relation to the Holdgate-1 well in PEP166, located onshore in the Gippsland Basin, Victoria.

Lakes Oil NL (LKO), as operator, advises that Holdgate-1 was at a depth of 160 metres at 8 o'clock this morning. Current operation is drilling ahead.

The objective of this well is to search for oil and gas plays on the massive Baragwanath Anticline in PEP166 (part of a large surface anticline stretching 60km long across PEP166 and PRL 2).

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